Hong Kong can drive ‘China Opportunity 2.0’ push for global growth: Paul Chan
Finance chief also says Northern Metropolis megaproject can serve as destination for Chinese firms to commercialise their technologies
Hong Kong is uniquely positioned to add value to Beijing’s “China Opportunity 2.0” narrative, serving as a bridge and catalyst for the global expansion of mainland Chinese enterprises, the city’s finance chief has said.
“In the face of complicated global geopolitics, the country is creating ‘China Opportunities 2.0’ with its mega-sized market and innovation and technology,” he said.
“Hong Kong’s international, financial, talent and institutional advantages under the ‘one country, two systems’ arrangement serve to transform these prospects into development opportunities that are more readily understood and accessible to overseas investors, thereby converting technological strength into asset value recognised by global capital.”
Chan made the remarks after attending the World Economic Forum’s Annual Meeting of the New Champions, also known as Summer Davos, in the northeastern mainland city of Dalian last week. He also visited the northwestern city of Xian to attend an event on the commercial aerospace industry.
At Summer Davos, Chinese Premier Li Qiang raised the concept of “China Opportunity 2.0” for the first time, which was reframed from “China Shock 2.0”, a term adopted in the West to describe the influx of Chinese goods into global markets after the pandemic, and its strategic reorientation to focus on self-sufficiency.